The Chances of Ethereum Food Coins Coming Back

by in DeFI News

food tokens

At the beginning of September, there appeared a number of tokens marked with a type of food: Pizza Finance, Tendies, Springroll Finance and multiple projects based upon almost any food existing.

It's clear that the market got flooded instantly. This caused a decline in the price of these tokens as many realized they were blatant copycats of more reputable projects like Yam Finance and SushiSwap.

Anyway, surprisingly enough, some food coins started to raise hundreds of per cent off their lows. Let's look into details and find the reasons. Food-themed Ethereum tokens scored huge amounts.

As shows CoinGecko, 3 of 6 leading crypto assets are food tokens. Salmon (SLM) reached 3.700% in 24 hours while Rotten and Juice have each gained hundreds of per cent apiece.

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Besides, there are multiple food coins like Donut, Tacos, and Shroom that have reached dozens of per cent in the last 24 hours. The most part of the the coins are profiting from the switching from traditional yield farming to non-fungible token (NFT) farming. This will help to capitalize on the ongoing digital art trend, where users are buying a lot of NFTs depicting jpgs and gifs.